Energy Markets
Oil drops as Trump's deadline of 50 days for Russia eases supply concerns
Oil prices dropped on Tuesday as U.S. president Donald Trump's 50-day deadline to Russia for ending the Ukraine war in order to avoid sanctions reduced immediate supply concerns. Brent crude futures dropped 29 cents or 0.4% to $68.92 per barrel at 0342 GMT. U.S. West Texas Intermediate Crude futures declined 35 cents or 0.5% to $66.63. Both contracts closed more than $1 lower the previous session. "Trump’s more lenient stance on Russian oil sanctions eased fears of a shortage while his tariff plan continues mounting economic pressures," said Priyanka Sackdeva, Senior Market Analyst at Phillip Nova. The news of possible...